China Startup Incentives: Rent-Free Industrial Parks

China’s biggest cities are offering companies free rent in industrial parks as they compete to lure startups and advanced manufacturers, igniting what local officials are calling a “city war” for top-tier enterprises.

Since March, Shenzhen, Hangzhou, Guangzhou, Huizhou and Suzhou have all launched “zero-rent” policies, waiving lease costs for two to five years in selected state-owned industrial parks. The programs aim to cutting expenses for tech firms and fill empty space left after years of overbuilding.